Uniqlo, Japan's number one clothing retail chain, is investing USD2.49 million for the establishment of three stores in the Philippines, with the first store slated to open in June this year at the Mall of Asia.

Geraldine Sia, general manager of the Fast Retailing Philippines, the joint venture company of Uniqlo Japan and SM Retail Inc., said at the signing of certificate of registration with the Board of Investments for their retailing venture there will be three Uniqlo stores to open this year.

The first store will open in June in MoA, the location of the two others have yet to be announced. The BoI said that each store has a required minimum investment of USD830,000 Category B under the Retail Trade Law.